World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6974 to U.S. Dollars 1.4340
Japanese Yen 94.3400 to U.S. Dollars 0.0106
British Pound 0.6063 to U.S. Dollars 1.6495
Canadian Dollar 1.0818 to U.S. Dollars 0.9244
Swiss Franc 1.0566 to U.S. Dollars 0.9464

Gold's break of 959.9 resistance on Friday clears out the outlook a bit an indicates that rise
from 931.3 is possibly resuming whole rally from 904.8. Initial bias is mildly on the upside
this week for a test of 974.5/992.1 resistance zone first. Nevertheless, strong resistance
could be seen there and bring another falling leg of the sideway consolidation that started at
1007.7. On the downside, below 942.4 support will turn intraday outlook neutral again. Break of
931.3 will indicate that another fall is indeed underway for 904.8 support instead.[oilngold]

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Gold's rally resumes after brief consolidation and reaches as high as 1023.3 so far. Short term outlook will remain bullish as long as 994.5 support holds and further rise should be seen to test key resistance at 1033.9. Decisive break there will confirm long term up trend resumption for 61.8% projection of 681 to 1007.7 from 931.3 at 1133.2 next. On the downside, break of 994.5 will indicate that a short term top is formed. In such case, deeper pull back could be seen to 931.3/974.3 support zone before resuming up trend.

In the bigger picture, rise from 681, which is tentatively treated as resumption of long term up trend, should have resumed after triangle consolidation from 1007.7 has completed at 931.3. Having said that, current rally from 931.3 should extend beyond 1033.9 high to 61.8% projection of 681 to 1007.7 from 931.3 at 1133.2 next. On the downside, break of 931.3 support is needed to be the first signal that Gold has topped out in medium term. Otherwise, outlook remains bullish even in case of deep pull back. [oilngold]

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Most commodities rose Tuesday as decline in USD resumed. WTI crude oil jumped +2.6% to 71.65 while Brent crude gained +2.7% to 70.53. Others in the energy complex also advanced with heating oil surging +3.4% to 1.81 and RBOB gasoline adding +1.7% to 1.78. However, profit-taking was then seen Wednesday morning as API reported increase in fuel inventory and Total's CEO said oil price is too based on supply. The benchmark contract is currently trading at 71.4.

USD plummeted against major currencies as the market anticipates the Fed will leave its policy rate unchanged at 0-0.25%. US LIBOR has been trading below Japan LIBOR since August 24 and the spread has been widening. USD might have been replaced Japanese yen as a currency borrowed for carry trades. This poses more downside risks to the dollar's outlook should market sentiment improves further.[oilngold.com]

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The energy complex ended the day with mixed performance. WTI crude oil rose to as high as 67.3 before pulling back and settling at 66.71, -0.2% as US consumer confidence index was worse than expected. The API inventory report showing crude builds further depressed oil price. For product prices, heating oil added +0.6% to 1.7 while RBOB gasoline dropped -0.6% to 1.63.

US consumer confidence index by the Confederation fell to 53.1 in September from 54.5 in the prior month as the employment situation remained poor. The labor market differential dropped to -43.6% in September from -40% in August. The measure represents the difference between the proportion of people saying jobs are plentiful has and the proportion of people saying jobs are difficult to find and the more negative the figure points to a worse job market. Historically, a decline in the difference signaled an increase in unemployment rate.[oilngold]

Crude oil edged higher to 72.55 but upside momentum remains unconvincing. Nevertheless, another rise is still mildly in favor with 68.16 support intact. Break of 73.16 will indicate that fall from 75.0 has completed at 65.05 already. The corrective structure will in turn indicate that medium term rally is still in progress for another high above 75.0 before completion. On the downside, below 68.16 will suggest that rebound from 65.05 has completed and will flip intraday bias back to the downside. Break of 65.05 will reaffirm the original bearish view that crude oil has topped out at 75.0 already and will bring fall resumption towards 58.32 key support next. [oilngold]

Crude oil's rally extends above 79.05 as market sentiment stays robust. Although USD recovers
amid speculations that Eurozone officials may show concerns about euro's strength at a meeting
today, it does not affect the bullishness on energy prices. While OPEC members do not think
recent rally in price has been driven by shortage in supply, they warn regulators taking action
to prevent excessive speculations.

Currently trading at 78.7, WTI crude oil price has risen for 8 consecutive days gaining +13% in
2 weeks. Although major oil agencies upgraded oil demand outlook and weekly inventory report
showed unexpected decline in oil products, a sustainable oil rally requires actual improvement
in demand which we haven't seen yet. At current price level, crude oil is vulnerable to
correction.[oilngold]

Intraday bias in crude oil remains neutral for the moment and some more sideway trading might be seen. But after all, risk will continue to remain on the downside as long as 80.51 resistance holds and fall from 82.00 is still in favor to continue. Below 72.39 will target 61.8% retracement of 65.05 to 82 at 71.52 next and then trend line support at 70.76.[oilngold]

According to news Crude oil prices reaches near about $78 a barrel in New York after an industry report showed U.S. supplies gained, raising concern that fuel demand in the biggest energy-consuming nation may be slow to recover.

Oil prices closed marginally lower on Monday, as the promise of milder weather in the United States took some steam out of the market. Weather forecasters said the worst of the cold spell, which swept across the United States and helped support energy prices over the last two weeks, was nearly over. Crude was earlier supported by data showing China's crude oil imports surged by nearly 25 percent in December. The world's second largest energy consumer imported over 20 million tonnes of crude for the first time ever in December, up almost a quarter from November, according to Customs data published on Sunday. Crude oil is trading at $82.15 as of 21:35pm, GMT, with a bearish trend. Crude's Pool-Position is 42% Long, meaning that most Finotec clients are selling the commodity.[oilngold]

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